Communism collapsed, now it's capitalism's turn

What is happening in Europe? Where is the state of revolt heading? Is it part of the plan, or is it destiny?

Whatever happened in the South Korean markets, whatever is happening in the Turkish markets, the same thing is happening in Europe. It makes no difference whether it is in the system or in the street. The point is that gambling has been mixed into the markets, or that the corrupt roam freely, or the state of the schools… It makes no difference at all. This is not a plan; it is destiny.

Note this: the institutions of capitalism are being trampled underfoot. It began with different effects in Eastern capitalism and different effects in Western capitalism.

In 1990, communism fell. That day, it was said that a new world order was beginning. But that was not the truth.

First communism fell; now capitalism is falling.

Capitalism is falling because it sacrificed labor, production, and social legitimacy to finance and the oligarchs.

And the new world order is only just beginning. That is the truth.

Not everyone will be able to make the transition to the new order. Some will be written into history and simply remain there.

Those who can make the transition to the new order will gather around two fundamental paradigms. The first will consist of the countries that embrace putting technology in the service of labor. The second will be those that embrace substituting labor with technology.

At first, the second will seem to be winning, but in the end everyone will see that the winner is labor. Not as a slogan. Because those who preserve fundamental jobs and skills will ultimately win.

Yet whether around the first pole or the second, the process of transitioning to the new world order will be very costly. A powerful and highly complex need for financing will arise.

So how will Türkiye finance its own new world?

Honestly, I have developed a campaign I have been conducting for a long time in my own way since the fund crisis began, and I continue to follow it. And I know that, though they are silent, this campaign has a broad circle.

The subject of my campaign is Islamic finance…

Yes, we studied Islamic economics and finance. But not with inspiration from the sky. Nor with some ordinary sense of timing. No field of research is born from whims. We studied Islamic economics and finance because capitalism was collapsing.

If capitalism were not going to collapse, Islamic economics and finance would not have become a school either. It would have remained a field of study that those interested wrote and read for themselves.

Today, in the world and especially in the Gulf, one of the world's most powerful capital ecosystems is being built. We are a part of this ecosystem, but we need to position ourselves more strongly.

To position ourselves more strongly, we must enact a participation finance law. We must enact a participation finance law that positions Islamic finance in a very ideal place between banking and the capital market, at the point furthest from both interest and gambling.

Our capital markets are being shrunk before our eyes today. Financing a future with banking has never been possible. As I said, this situation is not unique to us either.

These have lost their capacity to finance the future. They turned the world into a casino or a giant planet of usurers. They gave birth to oligarchs against the interests of societies.

People do not know what they are facing, but they can sense that something awaits them that should make them anxious. That is why they are tearing the system down.

We are among those who, despite the collapse of the system, have established a mechanism through which we can finance the future and ensure the correct flow of resources that are currently flowing wrongly. We have a participation finance system, for better or worse. We have no choice but Islamic finance.

The ecopolitical context is developing in this way as well. Europe's positioning against us in the Mediterranean, the Mecca Agreement, the Badr Alliance—all relate to this context.

We can change the game with participation finance. We have always made our investments in the Western financial system. We can no longer continue. We must begin investing in our own civilization, building the financial architecture of our own civilization.

I will continue my campaign until the participation finance law is placed on the Parliament's agenda. Whether those who see the need continue to remain silent, or the whole world turns against me.

The absence of this law was what prepared the path to the fund crisis. We cannot continue burying our heads in the sand like ostriches.

We react to every crisis with a law. What we have done in response to the crisis after the fund crisis is of no use. Legislation work that is like a punishment for the crisis will not save us. The regulation needed to open a brand-new page is the participation finance law.

Participation finance will change the game on the day it ceases to be an interest-free copy of banking and begins to finance labor, technology, and production through partnership.

I do not carry any other agenda with such large tonnage. They are all empty. Everyone has begun lashing out at everyone. Things are getting ugly. Basra is in ruins…

Still, a move we make today can save the future.

If we pull this off, the participation finance law will determine the rights of the saver, the limits of institutions, and the productive direction of finance without waiting for this longer-lasting crisis to end, and it will become the constitution of the financing of the future.